Vest Financial LLC Sells 7,592 Shares of Alamo Group, Inc. $ALG

Vest Financial LLC lowered its position in shares of Alamo Group, Inc. (NYSE:ALG) by 27.0% during the third quarter, HoldingsChannel.com reports. The fund owned 20,491 shares of the industrial products company’s stock after selling 7,592 shares during the quarter. Vest Financial LLC’s holdings in Alamo Group were worth $3,171,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Alamo Group in the 2nd quarter worth about $288,972,000. Dimensional Fund Advisors LP grew its stake in Alamo Group by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 527,399 shares of the industrial products company’s stock worth $87,006,000 after purchasing an additional 27,597 shares during the period. First Trust Advisors LP grew its stake in Alamo Group by 5.4% during the first quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company’s stock worth $77,419,000 after purchasing an additional 24,184 shares during the period. Wasatch Advisors LP increased its holdings in Alamo Group by 4.5% in the first quarter. Wasatch Advisors LP now owns 371,098 shares of the industrial products company’s stock worth $61,220,000 after purchasing an additional 16,019 shares in the last quarter. Finally, Copeland Capital Management LLC increased its holdings in Alamo Group by 189.3% in the first quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock worth $29,936,000 after purchasing an additional 118,737 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALG. Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. DA Davidson reaffirmed a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.

Alamo Group Trading Down 0.8%

Shares of Alamo Group stock opened at $146.03 on Friday. The stock has a market capitalization of $1.78 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. Alamo Group, Inc. has a 52 week low of $144.34 and a 52 week high of $219.88. The stock has a 50 day moving average price of $161.36 and a two-hundred day moving average price of $162.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. The company had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. As a group, equities analysts anticipate that Alamo Group, Inc. will post 10.52 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Thursday, October 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 15th. Alamo Group’s dividend payout ratio (DPR) is 16.31%.

Insider Activity

In other news, EVP Edward Rizzuti sold 2,715 shares of Alamo Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the completion of the transaction, the executive vice president directly owned 8,142 shares in the company, valued at $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is owned by corporate insiders.

Alamo Group Company Profile

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.